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At its upcoming session on 20 September, the UN Human Rights Council will discuss a new report, coordinated by Jean Zielger, on the harmful activities of vulture funds and their impact on human rights. This report shows how vulture funds negatively impact ...

By Aldo Caliari, Center of Concern At its 14th session, last February, the Human Rights Council Advisory Committee (“the Advisory Committee”) addressed for the first time the impacts of so-called vulture funds on human rights. “Vulture fund” is a generic name used to designate financial entities that use as a profit-making strategy the purchase of distressed debt owed by a sovereign debtor – that is, a State- on the cheap with the purpose of suing for the full amount once conditions for repayment improve. In a resolution adopted last September, the Human Rights Council entrusted the Human Rights Council Advisory Committee with the preparation of “a research-based report on the activities of vulture funds and the impact on human rights.” In preparation of that report it requested ...

This article is a reproduction from www.rightingfinance.org By Sharan Burrow Every year the World Bank issues its Doing Business Report, which contains a ranking of each country’s business environment. In 2012, the President of the World Bank, Dr. Jim Yong Kim, appointed an Independent Panel of experts to review the report. The panel, chaired by South Africa’s Minister of Planning Mr. Trevor Manuel, appeared to be an opportunity to change the report for the better. The Panel, indeed, came up with substantive recommendations for an overhaul of the Doing Business. But most of them have been ignored. Those who understand the power of this report and its associated rankings to drive governments and give them the cover to put the interest of private companies ahead of the rights of working people ...